Pricing

Premium/Discount % = (Market Price − NAV) ÷ NAV × 100

NAV = (Market Value of All Securities + Cash & Equivalents − Fund Liabilities) ÷ Total Shares Outstanding

Net Asset Value

$$\text{NAV} = \frac{ \text{Value of Assets of a Share Class} - \text{Liabilities of the Share Class} }{ \text{Number of Outstanding Shares of the Share Class} }$$

Bid-ask spread

Spread % = (Price − NAV) ÷ NAV × 100

Bond Investment Value

Sv (t) = Σ_t=1ⁿ c / (1 + r)^t + p / (1 + r)ⁿ

P = par value r = discount rate C = coupon rate n = number periods to maturity

Bond price

Bond Price = C* ((1-(1+r)^-n)/r )) + F/(1+r)^n F = Face / Par value of bond, r = Yield to maturity (YTM) and. n = No. of periods till maturity C= Periodic coupon payments

Bond Price = ∑ (Present Values of Cash Flows) + Present Value of Face Value

Coupon Rate (%) = Coupon ÷ Bond Par Value Current Yield (%) = Annual Coupon ÷ Bond Price Current Yield = (Coupon Rate x Par Value) ÷ Bond Quote